SFL (NYSE:SFL) Hits New 12-Month High – Here’s What Happened

SFL Corporation Ltd. (NYSE:SFL) reached a new 52-week high during trading on Thursday . The stock traded as high as $10.52 and last traded at $10.3650, with a volume of 1545291 shares changing hands. The stock had previously closed at $10.40.

Analyst Ratings Changes

SFL has been the subject of several recent research reports. Wall Street Zen downgraded shares of SFL from a “hold” rating to a “sell” rating in a research note on Saturday, February 14th. Weiss Ratings upgraded shares of SFL from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, February 2nd. Finally, BTIG Research boosted their target price on shares of SFL from $11.00 to $12.00 and gave the company a “buy” rating in a report on Wednesday, February 11th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $12.00.

SFL Price Performance

The business’s 50-day moving average price is $8.49 and its 200 day moving average price is $8.15. The company has a market capitalization of $1.51 billion, a P/E ratio of -51.83 and a beta of 0.47. The company has a quick ratio of 0.42, a current ratio of 0.36 and a debt-to-equity ratio of 2.04.

SFL (NYSE:SFL) last posted its earnings results on Wednesday, February 11th. The shipping company reported ($0.04) earnings per share (EPS) for the quarter. SFL had a negative return on equity of 0.30% and a negative net margin of 3.61%.The firm had revenue of $175.51 million during the quarter, compared to analysts’ expectations of $168.36 million. During the same quarter in the prior year, the company earned $0.15 earnings per share. The business’s revenue for the quarter was down 23.1% compared to the same quarter last year.

SFL Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 30th. Investors of record on Thursday, March 12th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Thursday, March 12th. This represents a $0.80 annualized dividend and a yield of 7.7%. SFL’s dividend payout ratio (DPR) is currently -400.00%.

Institutional Trading of SFL

Several institutional investors and hedge funds have recently modified their holdings of SFL. Russell Investments Group Ltd. boosted its position in shares of SFL by 4.8% during the 4th quarter. Russell Investments Group Ltd. now owns 29,778 shares of the shipping company’s stock valued at $233,000 after acquiring an additional 1,353 shares during the last quarter. Novak & Powell Financial Services Inc. raised its stake in SFL by 3.2% in the third quarter. Novak & Powell Financial Services Inc. now owns 44,009 shares of the shipping company’s stock valued at $331,000 after purchasing an additional 1,373 shares in the last quarter. Signaturefd LLC raised its stake in SFL by 30.5% in the fourth quarter. Signaturefd LLC now owns 6,008 shares of the shipping company’s stock valued at $47,000 after purchasing an additional 1,405 shares in the last quarter. ProShare Advisors LLC grew its stake in SFL by 6.9% in the 4th quarter. ProShare Advisors LLC now owns 22,171 shares of the shipping company’s stock worth $173,000 after buying an additional 1,424 shares in the last quarter. Finally, Brighton Jones LLC grew its stake in SFL by 8.2% in the 4th quarter. Brighton Jones LLC now owns 19,395 shares of the shipping company’s stock worth $198,000 after buying an additional 1,474 shares in the last quarter. Hedge funds and other institutional investors own 28.59% of the company’s stock.

SFL Company Profile

Ship Finance International Limited (NYSE: SFL) is an independent owner of modern, large-size ocean-going vessels that provides finance and leasing services to the global shipping industry. The company’s fleet encompasses a diversified mix of crude oil tankers, product and chemical tankers, liquefied natural gas (LNG) carriers, dry bulk carriers, container vessels and floating production storage and offloading (FPSO) units. By structuring long-term charter agreements and bareboat leases with major oil companies, commodity traders and offshore operators, Ship Finance International seeks to deliver stable cash flows and risk-adjusted returns for its shareholders.

In its core business, Ship Finance International acquires or finances vessels through forward sales agreements and then charters them out under fixed-rate contracts, typically ranging from five to 20 years in duration.